National Assembly Passes Virtual Assets Bill 2026

The National Assembly of Pakistan has passed the Virtual Assets Bill, 2026, formally initiating the establishment of a comprehensive regulatory framework for digital currencies and associated services within Pakistan.

The legislation was approved after the House set aside its scheduled Private Members’ Day agenda to prioritise the measure. The bill had previously secured passage in the Senate of Pakistan on February 27, 2026, and will now be transmitted to the President for assent prior to its enactment into law.

Federal Minister for Parliamentary Affairs Tariq Fazal Chaudhry tabled the bill before the House, where it was adopted by majority vote.

The statute provides for the creation of the Pakistan Virtual Assets Regulatory Authority (PVARA), mandated to license, regulate, and supervise virtual assets and virtual asset service providers operating in Pakistan.

Under the proposed framework, the authority will be tasked with formulating policy, issuing subordinate regulations, and monitoring activities linked to digital asset markets. The legislation seeks to introduce a structured legal regime governing virtual asset transactions while ensuring alignment with internationally recognised financial oversight standards.

The composition of the authority will include key ex-officio members: the Secretary of the Ministry of Finance, the Secretary of the Ministry of Law and Justice, the Governor of the State Bank of Pakistan, the Chairperson of the Securities and Exchange Commission of Pakistan, the Chairman of the National AML-CFT Authority, and the Chairperson of the Pakistan Digital Authority. Additionally, two independent directors possessing expertise in digital finance, technology, and virtual asset markets will be appointed by the federal government.

The authority will be empowered to determine strategic policy direction, approve its own budgetary allocations, and frame detailed regulations governing sectoral operations.

As outlined in the statement of objects and reasons appended to the bill, the legislative framework is intended to facilitate secure digital asset trading, curb unlawful practices such as money laundering and fraud, and encourage innovation alongside broader financial inclusion.

The law further aims to ensure compliance with global anti-money laundering (AML) and counter-terrorist financing (CFT) standards, while simultaneously enabling the development of Shariah-compliant virtual asset products and services within Pakistan’s financial ecosystem.